Should a Buyer be Pre-Quailified BEFORE showing them any homes? This debate is not new and no 2 agents may ever agree. With a couple of featured blogs this week coming out against asking buyers this question it is ignited a new discussion. I have to admit that John did open my eyes to a new view on this matter. For the record I will not show buyers who are not pre-quailified. But I will ask a series of questions before I ask the "big one".
The debate is whether asking a buyer if they are pre-quailified "right off the bat", risks scaring them away?
I prefer to use a series of questions to guage whether a buyer is ready, willing and able to purchase a home before I show them any homes. The most important thing is my questions will change depending on a buyers answers.
1. Did you see the home online, in an ad or drive by it?
2. Are you working with another Real Estate Agent?
3. When are you looking to move?
4. Where are you moving from?
5. Do you have a home to sell?
6. Have you met with a Loan Officer to get pre-quailified
Now before the bashing begins for asking for too much information, I have not met any quailified buyers who refused to answer any of these easy questions. Sometimes you need to ask only 1 question before becomiing comfortable, sometimes it is 2 and sometimes it is all of them. I do not use any script written in stone, my conversation is guided by the potential buyer. The most important skill is to know when to talk and when to listen.
TIPS OF THE WEEK
WHAT CAN YOU DO IF YOU WANT TO BUY A HOME?
1. GET PREQUAILIFIED with a local and Trusted Loan Officer. The biggest factior in buying a home is whether you can get a mortgage, how much they will loan you, how much you will need for a down payment and closing costs and what price range you should be looking at.
2. HIRE A BUYER AGENT: Here in NH a buyer can usually hire a buyer agent at no cost to them. The Buyer Agent gets paid their commission from an amount the listing agent has possted in the MLS. As a buyer you really should have an agent who guides you through EACH step of the Buying process.
HOW DO YOU KNOW HOW TO HIRE A BUYER AGENT?
1. Choose a FULL TIME Agent. You want an agent whose sole job is working in Real Estate. You want to make sure they are available when needed to answer questions or be guiding you through the buying process.
2. Choose a Full Service Agent. Sure discount brokers may charge slightly less but you can get substantially LESS in the service you receive. You want someone guiding you trhough EACH step, not just the easy one's leaving you on your own through teh harder or stressful ones.
3. Choose a LOCAL agent. Too many agents from out of town and even out of state are looking for you to hire them. They may not know your area, your neighborhood, not know your children's schools, where you shop, which church you go to and may not be able to be there on a moments notice when needed.
4. Choose an Experienced Agent. Not every agent is experienced with all types of homes, areas and types of sales. Choose an Agent that is Experienced in SELLING Homes. It is what we do and what we do well.
5. Choose an agent who will ASSIST YOU THROUGH EACH STEP of the Buying process. There is nothing worse than being left to fend for yourself. Your agent should be there through each step, answering your questions, guiding you and giveing you peace of mind.
WE STRIVE TO PROVIDE THE BEST POSSIBLE SERVICE THROGHOUT EACH STEP OF THE LISTING AND SELLING PROCESS!!!
If you have a home to sell in NH and want an agent who will stand by you through every step of the selling process? I am your agent. If you want strangers through your house, list with a mega agent.
Please call for a FREE MARKET ANALYSIS to let you know what the value of your home is.
If you need to sell your home and you owe more than your house is worth, i may be able to help. I specialize in working with home owners to get your home sold. There are many options such as a short sale whcih may be able to help you.
Please try and avoid out of state or out of town agents and companies that make "out of this world promises". We are local agents with experience who never charge any up front fees. WE GET RESULTS!!!
We stand by you through every step in selling your home.
PLEASE SEE MY "TOP" TIPS FOR BUYING A HOME
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PLEASE SEE MY "TOP" TIPS FOR SELLING A HOME
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SUPPORT LOCAL BUSINESS!!!
ONE OF NEW HAMPSHIRE'S LEADING AGENTS FOR SHORT SALES AND BANK OWNED HOMES...
If you are Looking for a Real Estate Agent you have come to the right place. Scott Godzyk is a Full Time and Local agent ready to serve all of your Real Estate needs through each step of the buying or selling process. We are proud to be locally owned and operated.
If you owe more than your house is worth, If you are behind in your payments, I may be able to help. Call me to find out how you may be able to sell your home at no additional cost to you.
Scott Godzyk is the Owner/Broker of The Godzyk Real Estate Services located in Manchester NH. With 25 years of Real Estate experience Scott specializes in Listing and Selling Bank Owned Homes, Short Ssles, Residential Properties, Condominiums, New Construction and Investment Properties. Scott services the counties of Hillsborough, Merrimack, Rockingham and Belknap. To contact Scott Godzyk please call 603-661-2121 or email sctprop@aol.com. his website is www.ScottSellsNH.com.
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28 Comments on STOP Scaring away the Buyers!!!
Scott- Barbara mentioned you on her blog so I jumped over to read yours. Perfect basic questions to ask before you start spinning your wheels!! If they wish to see homes, they must be willing and able buyers and all it takes to find out is 2 minutes.
Brenda I take each buyer case by case but do ask some questions and if anything does not sound right i get right to the point.
DAN great idea. I will add that in the future as I have met lots of agents around eh country I would use myself, so i certainly would refer them.
Sharon thank you for the comment
AL you said it best, if they will not get qualified and is becuase they can not get quailified and may not be able to buy
Thank you for the comments Roy, I am trying to enjoy the last weeks of summer here in New England. Then i am going to visit sunny Florida and stop into all my fellow AR agents offices to say hello come winter.
DICK it is very important to know who you are dealing with before you spend time, money, gas and safety with them.
BETH very well said and thank you for your comments.
A good conversation is an exchange of questions and answers between an agent and the buyer...if a buyer hesitates to answer, that is a red flag that you need to ask more questions.
A real buyer not only is financially solid, they have to be mentally ready to buy.
Nice job,
Eve in Orlando
Hi Scott, if any buyer refuses to answer any questions or gets hot under the collar because they were asked, then there is something to worry about. Why work with a buyer if they can't get preapproved or refuses to do so? Too many red flags and I am not spinning my wheels with buyers who just want to look.
Scott, We agree with you to "Choose an agent who will ASSIST YOU THROUGH EACH STEP of the Buying process". We have all heard of some buyer agents who are too busy to return calls and only show-up at closing...
Scott: I agree with you and I like your set of qualifying questions. Clients have to fill out intake forms when they hire a doctor, dentist, attorney or accountant. The service we perform is every bit as valuable and it is essential that we know some basic information about a potential client before spending lots of valuable time on a client who may never buy.
EVE I live and work by the old saying that a buyer should be ready, willing and able to purchase.
Jackie I feel teh same way, if a buyer is not willing to cooperate rergarding their pre-quailification I offer them couple of local loan officers names who can prequailify at no cost and if they refuse, then I simply can not help them any further.
Larry and Sheila I think that is the MOST IMPORTANT thinga Buyer or even a seller should look for is an agent that will assist them through EACH step of the process.
Linda very well said, thank you for the comments.
For me, it depends on the prospect. If I have a phone number or some way to actually SPEAK to them, it's a natural question to ask. For Internet leads for whom I have only an email address, I try to build a bit of a relationship or even meet them once before getting into that territory. Alot depends on the vibe I get from their initial emails.
Scott - I like the flow of your questions. It makes a buyer feel like you are interested in their needs, not just yours. I also ask for full contact information during the phone call. If someone won't give me that then I don't go to the next step for safety reasons. The first phone call needs to be a conversation, not an interrogation, so while it is important to get all this info, you are right, the WAY we go about it is something we need to review and adjust based upon our success rate in getting qualified buyers.
I agree with you about WHEN to ask THE QUESTION!! I find it works very well for me to engage in just a short but friendly and caring conversation before I find out if they are qualified. I will even go so far as to discuss when we can view the property together, etc and then will say "Do you have a prequalification letter yet?"
Since I have engaged in kind conversation with them, they at least see me as caring about more than just their pocketbook. Granted, I wont show unless they are qualified but I wont let that be the first thing out of my mouth ever, it just isnt the "polite" way to do business.